WAYS TO GIVE
There are many ways in which you can give at Christ Fellowship and worship God through your giving.
Give online through our giving page either one time or on a recurring schedule that you set up by credit card, debit card, apple pay, bitcoin or ACH transfer.
Give in person in any of our worship services, either by check or in cash. We have installed black tithe boxes in all of our locations, and you can give as you enter or leave the worship service.
Mail your gift into our central offices at 8900 SW 168 St, Miami, FL 33157, and it will be processed with weekend collections. Gifts through the mail can also be set up automatically through your bank’s Bill-Pay program as well. Many choose this option and set their giving priority in the automation of this discipline.
Give by text. Text "GIVE" the amount you wish to give to 888-281-7181 (example: text “GIVE 50” to 888-281-7181 for a $50 contribution). Follow the instructions in the return message to create your Text to Give account.
What are some additional ways I can give from my assets?
Gifts of stocks and other appreciated assets are simple to make and can have an immediate kingdom impact while also providing you with significant tax benefits.
You may be able to claim a charitable contribution deduction in the amount of the current market value of the donated stock. That is, you can deduct not only the original cost you paid for the donated shares but also the increase in the value of those shares.
You can avoid paying taxes on the appreciated value of the stock. The greater the amount of appreciation, the more capital gains tax the shareholder will face if the stock is sold. But this tax can be avoided if you donate the stock to the church, and also the church pays no capital gains tax when it sells the donated stock.
What is the process for donating stock?
The simplest way to donate stocks is to do so via electronic transfer from your broker to the church's broker. Christ Fellowship has a special account to handle these types of gifts. Contact your broker for specific instructions regarding your specific stock. Ensure the broker understands that you want to transfer the stock, not sell it. Here is the Church’s Account information that you’ll need to give them:
RAYMOND JAMES & ASSOCIATES
FAO: CHRIST FELLOWSHIP # 152LA841
Should I sell the stock first and donate the proceeds?
No, unless it is stock that has declined in value. If the stock has appreciated in value, you will want to donate the stock directly to the church so that you do not have to pay capital gains tax on the appreciated value.
Are there any special rules with the IRS?
Yes. Generally, the stock should be publicly traded stock that has been held for more than one year. Privately held stock is subject to its own set of special rules. There is also a limit to the number of charitable contributions given as “capital gain property”, and generally this is 30 percent of your adjusted gross income. If you have questions about the tax consequences of your donation, please contact your tax advisor for further clarification.
Give from your IRA
If you are 72 or older, have more than enough to live on when you retire, and want to give to Christ Fellowship you can do so with a qualified charitable distribution from your IRA. Each year the IRS allows you to give up to $100,000 from your IRA directly to a charity/church without having to include that amount in your taxable income. Please consult your accountant and/or Financial Advisor for more information.
Planned Gifts: Wills and trusts
If you have planned in advance to give a gift as part of your overall personal financial strategy, we recommend that you discuss your decision with your tax and/or financial advisor. There are several types of gifts that may fall under this category, many of which are very simple to make and do not require any formal communication to us. You can name Christ Fellowship in your will as a beneficiary and your estate will receive an income tax deduction for the value of your bequest. A bequest written in a will or trust can be made for either a percentage or an amount. To sign up for a seminar click here.
Other Deferred Methods of Giving:
Charitable Gift Annuities
By donating assets like cash, appreciated securities or real estate to fund a life-income gift such as a charitable gift annuity, you receive income for yourself or up to two beneficiaries for life. You may also be able to receive significant tax savings now. Please contact Debbie Sutton in our office at 305-238-1818 ext. 1229 to discuss more about this gift opportunity.
You can name a charity as the beneficiary of your life insurance. A better idea may be to transfer actual ownership of the policy to an organization or buy and contribute to a new policy. Such a gift will entitle you to an income tax deduction, and the future premium payments will be tax deductible.
Most accounts at financial institutions can be made payable at death to a person or a charitable organization. Ask the manager of the institution how you can arrange to designate a death beneficiary for your CD, savings account, brokerage account, etc.
Donating from my IRA Gifts from an IRA can provide significant tax advantages as well. You should talk to your investor for advice on how to make this donation.
Benefits from IRAs and Pension Funds
Your estate can save both income taxes and estate taxes if you make a charity the death beneficiary of your individual retirement account or other retirement savings plan. You also can arrange for lifetime income to be paid to a family member after your death, with the charity’s benefit coming later.
What are Christ Fellowship's accounting standards?
Christ Fellowship has extremely high accounting standards. Our organization is audited by an independent CPA firm each year. You can request a copy of the report for any year, and you will find that money given to Christ Fellowship is managed with great integrity. Christ Fellowship is a member of the Evangelical Council for Financial Accountability (ECFA), an accrediting organization that is dedicated to helping Christian ministries and churches uphold high standards of responsible stewardship.
Special 2020 Giving Opportunities
The Cares Act has created some giving opportunities exclusively for 2021.
Limitations on giving to a church or non-profit have been lifted and you can give as much as 100% of your AGI (Adjusted Gross Income). This is an opportunity for those planning major cash gifts to eliminate or greatly reduce income taxes in 2021.
For those who take the standard deduction in 2021, you are allowed to deduct up to $300 in contributions over and above the standard deduction.